Prosperity Life's unit to buy insurer National Western in $1.9 billion deal
- A unit of Prosperity Life Group agreed to buy life insurer National Western Life Group in a deal valued at $1.9 billion, the companies said on Monday.
The deal gives National Western a value of $500 per share, a premium of nearly 20% to its stock's last close on Friday. Mergers and acquisitions in the U.S. corporate space are starting to pick up pace after a dull 2022, boosted by hopes that the Federal Reserve could engineer a soft landing for the economy.Comment Guidelines
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North Western Lift to be bought out by a Prosperity Life affiliate for $500 a shareTomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
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